Wolters Kluwer Regulatory Compliance, Tax Experts to Host Webinar Exploring New Cryptocurrency Tax Reporting Rules

Rhea-AI Summary

Wolters Kluwer Compliance Solutions will host a webinar on December 7, 2021, from 3-4 PM EST, focusing on the new U.S. cryptocurrency tax reporting rules established by the Infrastructure Act. The legislation requires IRS Form 1099-B for digital asset transactions starting in 2024. Experts, including Stevie Conlon and Anna Vayser, will discuss the implications for brokers and financial institutions, emphasizing compliance with tax reporting protocols in the evolving financial landscape.

Compliance Solutions to provide key considerations, insights to broker, investor community

MINNEAPOLIS--(BUSINESS WIRE)-- Wolters Kluwer Compliance Solutions is set to host a webinar focused on exploring the newly enacted U.S. cryptocurrency tax reporting rules and their impact. The webinar, “Understanding the New Cryptocurrency Reporting Rules and Their Impact on Brokers and Financial Institutions,” will take place from 3-4 pm EST Tuesday, December 7, 2021.

The Infrastructure Act recently signed into law by President Biden explicitly requires IRS Form 1099-B gross proceeds and cost basis tax reporting for U.S. sales of digital assets, including cryptocurrencies, effective beginning for returns required to be filed in 2024. An overview of this new requirement and important initial implications will be provided, and other virtual currency tax developments also will be discussed, time permitting.

Representing Wolters Kluwer Compliance Solutions on the webinar are Stevie Conlon, Vice President, Tax & Regulatory Counsel; Anna Vayser, Investment Compliance Solutions Corporate Actions Product Manager; and Robert Schwaba, Manager, Specialized Consulting, Tax & Regulatory. The participants have co-authored a number of tax articles relating to cryptocurrencies since 2018.

“Cryptocurrencies and other digital assets present a range of challenges as well as new opportunities in today’s financial services landscape,” said Steve Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. “It is critical for brokers, investors and all other market participants to be fully aware of tax reporting protocols and the changing tax and regulatory landscape in order to remain fully compliant.”

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. insurers, banks and credit unions, and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.

Wolters Kluwer’s GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ eOriginal® suite of purpose-built, digital lending solutions, for example, helps lenders digitize their transactions and features electronic signatures, collateral authentication and an electronic vault. Compliance Solutions’ OneSumX® for Regulatory Change Management tracks regulatory changes and organizes them to create structured, value-added content through a single data feed that is paired with an easy-to-use software solution. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. The division’s legal solutions businesses are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.

Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,200 people worldwide.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211122005119/en/

Paul Lyon

Global Corporate Communications Director

Governance, Risk & Compliance Division

Wolters Kluwer

Office +44 20 3197 6586

Paul.Lyon@wolterskluwer.com

David Feider

Corporate Communications Manager, Banking & Regulatory Compliance

Governance, Risk & Compliance Division

Wolters Kluwer

Tel: +1 612-852-7966

David.feider@wolterskluwer.com

On Twitter: @davidafeider

Source: Wolters Kluwer Compliance Solutions

FAQ

What is the date and time of the Wolters Kluwer webinar on cryptocurrency tax rules?

The webinar is scheduled for December 7, 2021, from 3-4 PM EST.

What new tax reporting requirement was introduced by the Infrastructure Act?

The Infrastructure Act requires IRS Form 1099-B for reporting gross proceeds and cost basis of U.S. sales of digital assets starting in 2024.

Who are the speakers at the Wolters Kluwer cryptocurrency tax reporting webinar?

Speakers include Stevie Conlon, Anna Vayser, and Robert Schwaba from Wolters Kluwer Compliance Solutions.

What is the significance of the new cryptocurrency tax reporting rules for brokers?

The rules require brokers and financial institutions to comply with new tax reporting protocols, impacting their operations and tax obligations.

Which organization is hosting the webinar on cryptocurrency tax reporting?

The webinar is hosted by Wolters Kluwer Compliance Solutions.